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#1825192 - 06/19/13 06:41 PM HPML-FHA loans
bstritecky Offline
Gold Star
Joined: Feb 2005
Posts: 313
sd
Recently it seems like all of our FHA loans are being flagged as HPMLs. Is anyone else having this issue and do you know why this all of sudden changed?

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Lending Compliance
#1825719 - 06/20/13 06:12 PM Re: HPML-FHA loans bstritecky
bstritecky Offline
Gold Star
Joined: Feb 2005
Posts: 313
sd
bump

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#1826033 - 06/21/13 02:21 PM Re: HPML-FHA loans bstritecky
Island Dreaming Offline
100 Club
Joined: May 2009
Posts: 234
midwest
Becky - we noticed that also. It is due to the mortgage insurance premium being charged for the life of the loan instead of dropping off at the 78% ltv mark. This is a recent change in the FHA program.
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#1837560 - 07/30/13 01:37 PM Re: HPML-FHA loans Island Dreaming
Reads Regs Offline
Diamond Poster
Joined: Nov 2004
Posts: 2,310
Here's a link to the HUD mortgagee letter that announced the change. http://portal.hud.gov/hudportal/documents/huddoc?id=13-04ml.pdf

This 6/3/13 document explains the HPML issue with FHA loans. http://portal.hud.gov/hudportal/documents/huddoc?id=FrDesCarGalaJun2013_Final.pdf
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Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

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#1837886 - 07/30/13 10:08 PM Re: HPML-FHA loans bstritecky
MyKidsMom Offline
Platinum Poster
MyKidsMom
Joined: May 2004
Posts: 641
TEXAS
If a revised TIL was not provided 3 days before closing, what are our options?

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